Posts Tagged spreadbet
![DOW scalp trade for a few points]()
I thought I'd have another go at the DOW today since my forex trading yielded a -20 result. I needed to find a way to top up my account!
The Dow was moving lower and you can see the resistance line I drew in. The market was bouncing to this line before heading lower. However, at the blue arrow, the market broke the resistance line and I was looking at a possible long entry at 10532. Luckily for me this did happen as the market tanked. I wasn't flexible enough to short at this stage here so I
June 21, 2010
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![Monster Rally on the GBPUSD]()
The GBPUSD really powered ahead today.. I was trading my 4-to-7 breakout strategy and got my 30 pips. It seems pathetic when the market powered on another 170 pips or so.. still, a profit is a profit!
The range was 14632 and 14597.
I didn't trade the 9-to-9 however. If the range is over 120 pips or so, the movement has already been too large for the day. Also, I can't scale my trade to be small enough so that the hefty pip stop loss is a mere 5% of my trading account.
The top
June 14, 2010
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So, as per my previous post, I mentioned that I did trade. I like breakouts so this is very similar to what I was doing before except that rather than taking the low and the high between 4 - 7am UK time, I am taking the low and high of a much higher time frame... 9pm to 9am. I then do the same thing, buy when the upper barrier is breached or sell if the lower barrier is breached. The target is the size of the band and the stop loss is the other side of the range. I wouldn't trade though if the
June 9, 2010
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